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Natural Gas Continues to Gain in Popularity

America’s abundant supplies of natural gas are already changing the country’s energy outlook. Auto manufacturers are now producing vehicles that run on natural gas. Utility companies are switching power plants from coal to natural gas. And energy companies are placing big bets on the cleaner burning domestic fuel.

ExxonMobil CEO Rex Tillerson predicts that natural gas will soon displace coal and become the country’s second leading fuel source. Tillerson made the comments while speaking to his company’s shareholders.

The world’s largest publicly traded company has bet big on the future of natural gas, which Tillerson believes will replace coal as the No. 2 fuel behind oil.

The chief executive of the world’s largest energy company has made some big bets on natural gas, including its 2010 acquisition of XTO Energy.

Tillerson said the company’s expectations that world natural gas demand will grow 60 percent by 2040 made its heavy investments, including its XTO purchase, valuable.

CommentsOne Response to “Natural Gas Continues to Gain in Popularity”

June 6th, 2012 at 12:11 pm

Tony Wiggletoe

Exxon could help by working to help domestic railroads switch from diesel to LNG. Exxon can them export the diesel made from domestic crude instead of exporting domestic LNG because an LNG tanker on the open Ocean is far too difficult to protect from terrorist and an LNG tanker is just far too much of a fuel rich target especially in the canal zone. "We're studying the possibilities of exporting natural gas from North America, from both the U.S. and Canada, because of the abundant supply that has now been confirmed in North America," CEO Rex Tillerson told shareholders.

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Natural Gas Continues to Gain in Popularity

CommentsOne Response to “Natural Gas Continues to Gain in Popularity”

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